Conditional formulas
I need a conditional formula for my tax calculations. Essentially: Multiple the value of a cell only up to 9325 by .10. Help!
MacBook Pro (13-inch Mid 2009), Mac OS X (10.7.5)
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Both tiers can be joined in a single formula. If more than two tiers are involved, the formula gets complicated, and it's time to bring in a tax table/lookup table.
Here's a formula that calculates taxes accoring to the rules you have presented. The amounts to be taxed are in Column A.
MIN(A2,9325)×0.1+MAX(A2−9325,0)×0.15
Regards,
Barry
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Conditional formulas